My husband receives Medicare due to his disability. I have BSBS insurance with my job. He is covered under both. I picked the top coverage due to his illness. It costs me over $800.00 every two weeks. I would like to lower my coverage due to the high expense. Do I really need all this coverage?
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You ask a difficult question, Vicki. On the one hand you know the benefits of having insurance (your husband's benefits), on the other hand (in my humble opinion) buying insurance is giving in to fear. Insurance companies make a lot of money by selling fear (again, my opinion). If you reduce your amount of coverage, you are gambling to some extent on your continued health and well-being. Some questions to ask yourself as you consider reducing your coverage? Do you live a healthy lifestyle (a normal weight, regular exercise, meals containing high percentages of raw fruit and veg)? Do you have any hereditary concerns (does diabetes run in your family, for instance)?
Many of us gamble with continued good health and minimal health insurance coverage and never regret the choice. You'd be amazed the amount of money your money earns when you invest instead of paying insurance premiums.
Good luck to you.
This would be difficult for anyone on Thrifty to answer because there are so many variables.
It does appear to me that you are over insured since your husband has Medicare (BUT Medicare only covers a portion of the total bill).
I believe that AARP may be able to help you determine what you need but they may also try to get you to "switch" insurance so keep that in mind.
Some people have received help through their state insurance commissioner so you might try that also.
Have you discussed this with your insurance agent (through your personnel office)? They may be able to help you or recommend someone for you to see.
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